|
GDP grew by 4.1 % in the fourth-quarter
GDP, U.S. Economy
The Gross domestic product, the measurement of the nations output, improved in the fourth-quarter, as private domestic investments and foreign demand for American products pick up.
In the fourth-quarter Gross domestic product soared by 4.1 % to $21,488 billions, an increase from $21,170 billions in the third-quarter on the seasonally adjusted basis, reported by the Commerce Department. Exports and investments grew above averge in the fourth-quarter.
The U.S. Economy continued to grow in the fourth-quarter to 4.1 % at an annual rate, compare to 33.4 % in previous quarter. The first estimate of GDP will be revised twice before it becomes final. The advance report includes estimates for trade and inventory growth. From , nation's output deteriorated by -2.4 %. |
In the fourth-quarter real consumer spending was estimated to have increased at a 2.4 % annualized clip, slower consumer spending growth was an important contributor to the deceleration in overall growth in the fourth-quarter, reported by the Commerce Department.
With estimated annual rate of $14,542 billions, seasonally adjusted in the third-quarter, consumer spending accounts for 68.69 % of economic activity.
Final sales, which exclude inventory behavior, were down to a 3.0 % gain in the fourth-quarter, following a 25.9 % gain in the third-quarter.
The government provides three estimates of economic growth per quarter, with each reflecting more complete information than the last.
GDP faded by -3.5 % for the year 2020, more than 2.2 % in the year 2019.
• More on U.S. Real Gross Domestic Product
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Contributions
to Percent Change in Real GDP |
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1.61% |
4.23% |
-0.19% |
1.86% |
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Government Consumption |
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Government spending decreased by -1.10 % annual pace, government spending on national defense rose 4.70 %, it accounts for 4.21 % of total U.S. economy and 23.60 % of total government spending.
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International Trade |
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Diversified |
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Investments grew in double digits in fourth-quarter by 26.50 % to $3,917 billions, but slow down compare to the July-through-September period, on the seasonally adjusted basis, reported by the U.S. Commerce Department.
Stronger inventory buildup from October-through-December, added 1.11 percentage point to growth.
Economists expect companies to cut back on inventories in the January-through-March quarter. As a result, GDP growth is expected to slow.
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U.S. growth would have been even faster if imports, which subtract from GDP, hadn't increased sharply: Imports rose 29.60 % from 93.10 % in the fourth-quarter.
• Relation of U.S. GDP, U.S. GNP
• Corporate Profits by Industry
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|
Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
IV Quarter
2020
adv. |
III Quarter
2020
final |
II Quarter
2020
rev. |
I Quarter
2020
adv. |
IV Quarter
2019
final |
III Quarter
2019
rev. |
| Gross domestic product (GDP) |
|
4.1 % |
33.4 % |
-31.7 % |
-5 % |
2.1 % |
2.1 % |
|
Personal consumption expenditures |
|
2.4 % |
41 % |
-34.1 % |
-6.8 % |
1.7 % |
3.2 % |
| Goods |
|
-1.1 % |
31.1 % |
-14.9 % |
8 % |
-0.3 % |
3.9 % |
| Durable goods |
|
-0.6 % |
82.7 % |
-1.3 % |
-13.8 % |
2.6 % |
8.1 % |
| Nondurable goods |
|
4 % |
38 % |
-43.1 % |
-9.8 % |
2.2 % |
2.2 % |
| Services
|
|
-0.9 % |
47.2 % |
-10.6 % |
0.2 % |
0.7 % |
5.3 % |
| |
|
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|
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|
Gross private domestic investment |
|
26.5 % |
86.3 % |
-46.2 % |
-10.2 % |
-6 % |
-1 % |
| Fixed investment |
|
19.1 % |
31.3 % |
-28.9 % |
-1.3 % |
-0.5 % |
-0.8 % |
| Nonresidential |
|
14 % |
22.9 % |
-26 % |
-6.4 % |
-2.3 % |
-2.3 % |
| Structures |
|
1.1 % |
-17.4 % |
-33.4 % |
2.6 % |
-8.1 % |
-9.9 % |
| Equipment &
software |
|
25.7 % |
68.2 % |
-35.9 % |
-16.6 % |
-4.4 % |
-3.8 % |
| Residential |
|
35.8 % |
63 % |
-37.9 % |
18.2 % |
6.2 % |
4.6 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
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Net exports of goods and services |
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| Exports
|
|
21.8 % |
59.6 % |
-63.2 % |
-9 % |
2 % |
1 % |
| Goods |
|
30.8 % |
104.3 % |
-66.3 % |
-1.9 % |
-0.5 % |
2.1 % |
| Services |
|
4.3 % |
-0.5 % |
-56.9 % |
-21.1 % |
7.1 % |
-1.3 % |
| Imports
|
|
29.6 % |
93.1 % |
-54 % |
-15.7 % |
-8.6 % |
1.8 % |
| Goods |
|
30.7 % |
110.2 % |
-49.5 % |
-12.2 % |
-11.5 % |
1.1 % |
| Services |
|
23.9 % |
24.9 % |
-69.7 % |
-28.6 % |
4.6 % |
4.8 % |
| |
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| Govt. consumption exp.
& gross investment |
|
-1.1 % |
-4.8 % |
2.8 % |
1.1 % |
2.6 % |
1.7 % |
| Federal |
|
-0.9 % |
-6.2 % |
17.6 % |
2 % |
3.8 % |
3.3 % |
| National defense |
|
4.7 % |
3.2 % |
4.2 % |
1.1 % |
5.3 % |
2.2 % |
| Nondefense |
|
-8.9 % |
-18.3 % |
40.1 % |
3.3 % |
1.7 % |
5 % |
| State & local |
|
-1.2 % |
-3.9 % |
-5.5 % |
0.5 % |
1.9 % |
0.7 % |
| |
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| Addenda: |
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| Final sales of domestic product |
|
3 % |
25.9 % |
-28.5 % |
-3.5 % |
3.1 % |
2.1 % |
| Gross domestic purchases |
|
5.5 % |
37.3 % |
-30.8 % |
-6.1 % |
0.5 % |
2.2 % |
| Final sales to domestic
purchasers |
|
4.4 % |
29.8 % |
-27.6 % |
-4.6 % |
1.5 % |
2.2 % |
| Gross national product
(GNP) |
|
- % |
34.6 % |
-32.9 % |
-5.6 % |
- % |
2.2 % |
| Disposable personal income |
|
-10 % |
-16.3 % |
47 % |
0.9 % |
1.7 % |
2.9 % |
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| Current-dollar measures: |
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| GDP |
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6.1 % |
38.3 % |
-33.3 % |
-3.4 % |
3.5 % |
3.8 % |
| Final sales of domestic product |
|
5.2 % |
30.2 % |
-29.8 % |
-2.2 % |
4.4 % |
4 % |
| Gross domestic purchases |
|
6.3 % |
33.9 % |
-28.6 % |
-3.1 % |
2.9 % |
3.7 % |
| Final sales to domestic purchasers |
|
7.3 % |
43.7 % |
-33.9 % |
-4.5 % |
2.5 % |
3.8 % |
| GNP |
|
- % |
39.6 % |
-34.5 % |
-4.1 % |
- % |
3.9 % |
| Disposable personal income |
|
-8.6 % |
-13.2 % |
44.4 % |
2.2 % |
3 % |
4.5 % |
| |
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Quarters seasonally adjusted
(Quarterly Y / Y, in %) |
IV Quarter
2020
adv. |
III Quarter
2020
final |
II Quarter
2020
rev. |
I Quarter
2020
adv. |
IV Quarter
2019
final |
III Quarter
2019
rev. |
| Gross domestic product (GDP) |
|
-2.4 % |
-2.8 % |
-9.1 % |
0.3 % |
2.3 % |
2.1 % |
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Personal consumption expenditures |
|
-2.6 % |
-2.8 % |
-10.5 % |
0.6 % |
2.6 % |
2.6 % |
| Goods |
|
4.2 % |
4.3 % |
-1.7 % |
4.4 % |
3 % |
3.5 % |
| Durable goods |
|
11.8 % |
12.8 % |
-1.4 % |
2 % |
5.9 % |
5.5 % |
| Nondurable goods |
|
-6.8 % |
-7.3 % |
-14.5 % |
-0.8 % |
2 % |
1.8 % |
| Services
|
|
6.8 % |
7.2 % |
-1.6 % |
3.6 % |
4 % |
4.2 % |
| |
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Gross private domestic investment |
|
3.5 % |
-3.4 % |
-16.8 % |
-5.9 % |
-1.9 % |
0.4 % |
| Fixed investment |
|
2.2 % |
-1.9 % |
-7.7 % |
-1 % |
0.1 % |
0.9 % |
| Nonresidential |
|
-1.2 % |
-4.5 % |
-8.5 % |
-3.1 % |
-0.3 % |
1.4 % |
| Structures |
|
-14.5 % |
-15.9 % |
-10.9 % |
-6.5 % |
-6.5 % |
-6.7 % |
| Equipment &
software |
|
3.5 % |
-2.6 % |
-14.9 % |
-6.2 % |
-1.9 % |
1 % |
| Residential |
|
14.1 % |
7.2 % |
-4.9 % |
6.3 % |
1.6 % |
-1.1 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
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Net exports of goods and services |
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| Exports
|
|
-11 % |
-14.6 % |
-23.2 % |
-3 % |
0.3 % |
0.2 % |
| Goods |
|
-3.6 % |
-9.3 % |
-23.3 % |
-1.6 % |
- % |
0.8 % |
| Services |
|
-24.1 % |
-24 % |
-23.2 % |
-5.7 % |
0.9 % |
-1 % |
| Imports
|
|
-0.6 % |
-8.6 % |
-22.4 % |
-5.8 % |
-2.2 % |
0.9 % |
| Goods |
|
5.2 % |
-4 % |
-20.1 % |
-5.8 % |
-3.4 % |
0.1 % |
| Services |
|
-24.1 % |
-27.9 % |
-31.8 % |
-6.1 % |
3.3 % |
4.3 % |
| |
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| Govt. consumption exp.
& gross investment |
|
-0.6 % |
0.3 % |
2.1 % |
2.5 % |
3 % |
2.2 % |
| Federal |
|
2.4 % |
3.6 % |
6.8 % |
4.2 % |
4.4 % |
3.7 % |
| National defense |
|
2.8 % |
3.3 % |
4 % |
2.7 % |
4.6 % |
4.6 % |
| Nondefense |
|
1.7 % |
4.1 % |
10.9 % |
6.4 % |
4.1 % |
2.4 % |
| State & local |
|
-2.4 % |
-1.7 % |
-0.7 % |
1.5 % |
2.2 % |
1.4 % |
| |
|
|
|
|
|
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| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
-2.7 % |
-2.6 % |
-7.6 % |
1.2 % |
2.7 % |
2.2 % |
| Gross domestic purchases |
|
-1.3 % |
-2.4 % |
-9.4 % |
-0.2 % |
1.9 % |
2.1 % |
| Final sales to domestic
purchasers |
|
-2.7 % |
-2.6 % |
-7.6 % |
1.2 % |
2.7 % |
2.2 % |
| Gross national product
(GNP) |
|
- % |
-3.1 % |
-9.7 % |
0.3 % |
- % |
2.2 % |
| Disposable personal income |
|
3.2 % |
6.8 % |
11.9 % |
1.7 % |
2.4 % |
2.9 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales of domestic product |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Gross domestic purchases |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales to domestic purchasers |
|
- % |
- % |
- % |
- % |
- % |
- % |
| GNP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Disposable personal income |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
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U.S. Real Gross Domestic Product and Related Measures
GDP, U.S. Economy in Billions of U.S. dollars
Quarters seasonally adjusted
(At annual rates, in Billions of Dollars) |
IV Q. 2020
adv. |
III Q. 2020
final |
II Q. 2020
rev. |
I Q. 2020
adv. |
IV Q. 2019
final |
III Q. 2019
rev. |
| Gross domestic product
(GDP) |
|
21,487.9 |
21,170.3 |
19,486.5 |
21,539.7 |
21,726.8 |
21,542.5 |
|
Personal consumption expenditures |
|
14,542.4 |
14,401.5 |
13,046.7 |
14,583.3 |
14,789.3 |
14,678.2 |
| Goods |
|
4,858.9 |
4,868.4 |
4,364.3 |
4,550.1 |
4,559.8 |
4,556.7 |
| Durable
goods |
|
1,750.6 |
1,753.0 |
1,480.1 |
1,485.1 |
1,546.9 |
1,549.7 |
| Motor vehicles & parts |
|
587.6 |
585.0 |
486.5 |
493.6 |
541.1 |
537.1 |
| Furniture & household equipment |
|
404.2 |
407.6 |
351.8 |
354.6 |
356.3 |
359.0 |
| Other |
|
235.1 |
234.8 |
169.6 |
214.0 |
225.9 |
227.4 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
3,108.3 |
3,115.4 |
2,884.2 |
3,065.0 |
3,012.9 |
3,007.0 |
| Food off-premises consumption |
|
1,139.7 |
1,147.0 |
1,135.8 |
1,120.4 |
1,041.5 |
1,042.8 |
| Clothing
& shoes |
|
380.9 |
380.0 |
288.6 |
362.5 |
400.5 |
402.3 |
| Gasoline,
fuel, oil & other energy goods |
|
252.2 |
248.4 |
190.4 |
313.0 |
342.9 |
338.0 |
| Other |
|
1,335.5 |
1,340.0 |
1,269.4 |
1,269.1 |
1,228.0 |
1,223.9 |
| |
|
|
|
|
|
|
|
| Services |
|
9,683.5 |
9,533.2 |
8,682.4 |
10,033.2 |
10,229.4 |
10,121.5 |
| Housing |
|
9,175.1 |
9,039.0 |
8,111.5 |
9,506.9 |
9,770.1 |
9,670.9 |
| Food services |
|
816.6 |
824.7 |
613.2 |
948.4 |
1,035.8 |
1,030.0 |
| Electricity & gas |
|
2,817.0 |
2,799.3 |
2,781.6 |
2,730.4 |
2,708.9 |
2,688.1 |
| Financial services |
|
1,224.1 |
1,212.9 |
1,180.9 |
1,183.4 |
1,178.6 |
1,167.1 |
| Transportation |
|
365.1 |
362.2 |
294.7 |
451.7 |
487.4 |
483.2 |
| Medical
care |
|
2,447.5 |
2,369.4 |
1,991.7 |
2,422.1 |
2,510.4 |
2,476.0 |
| Recreation |
|
405.2 |
390.5 |
274.3 |
551.6 |
598.5 |
588.1 |
| Other |
|
1,099.7 |
1,080.0 |
975.1 |
1,219.3 |
1,250.6 |
1,238.3 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,917.1 |
3,688.2 |
3,134.2 |
3,629.0 |
3,699.2 |
3,744.6 |
| Fixed investment |
|
3,871.0 |
3,689.0 |
3,432.1 |
3,679.5 |
3,681.3 |
3,677.6 |
| Nonresidential |
|
2,881.3 |
2,787.4 |
2,658.0 |
2,822.6 |
2,863.7 |
2,877.2 |
| Structures |
|
559.1 |
557.4 |
585.0 |
615.3 |
608.1 |
619.4 |
| Equipment & software |
|
1,266.2 |
1,202.0 |
1,057.2 |
1,172.4 |
1,224.1 |
1,237.4 |
| Information processing equipment & software |
|
456.1 |
443.4 |
401.6 |
388.7 |
406.8 |
409.2 |
| Computers & peripheral equipment |
|
82.9 |
81.3 |
85.5 |
93.2 |
94.1 |
93.6 |
| Software |
|
437.9 |
429.4 |
423.8 |
431.2 |
421.5 |
421.1 |
| Other |
|
535.2 |
517.2 |
506.6 |
510.5 |
515.9 |
505.8 |
| Industrial equipment |
|
264.2 |
249.5 |
238.8 |
245.5 |
249.3 |
257.3 |
| Transportation equipment |
|
268.7 |
238.3 |
175.9 |
272.4 |
296.1 |
294.8 |
| Other equipment |
|
277.3 |
270.8 |
240.9 |
265.8 |
271.9 |
276.1 |
| Residential |
|
989.7 |
901.6 |
774.0 |
856.8 |
817.6 |
800.3 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
46.1 |
-0.8 |
-297.9 |
-50.4 |
17.9 |
67.0 |
| Farm |
|
5.2 |
3.2 |
-1.4 |
0.1 |
-4.3 |
-7.6 |
| Nonfarm |
|
40.9 |
-4.0 |
-296.5 |
-50.5 |
22.2 |
74.7 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-804.2 |
-736.1 |
-536.8 |
-524.7 |
-577.4 |
-653.0 |
| Exports |
|
2,208.0 |
2,071.6 |
1,798.5 |
2,420.9 |
2,497.5 |
2,495.1 |
| Goods |
|
1,529.9 |
1,407.1 |
1,134.7 |
1,599.1 |
1,629.4 |
1,638.0 |
| Services |
|
678.0 |
664.5 |
663.8 |
821.8 |
868.1 |
857.1 |
| |
|
|
|
|
|
|
|
| Imports |
|
3,012.1 |
2,807.7 |
2,335.3 |
2,945.6 |
3,074.9 |
3,148.2 |
| Goods |
|
2,551.9 |
2,375.2 |
1,928.9 |
2,379.0 |
2,458.8 |
2,540.9 |
| Services |
|
460.2 |
432.5 |
406.5 |
566.6 |
616.0 |
607.2 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,832.6 |
3,816.6 |
3,842.4 |
3,852.0 |
3,815.7 |
3,772.8 |
| Federal |
|
1,493.5 |
1,487.0 |
1,509.2 |
1,460.2 |
1,451.9 |
1,432.2 |
|
National defense |
|
904.5 |
887.7 |
877.6 |
866.0 |
864.1 |
849.3 |
|
Consumption expenditures |
|
712.1 |
700.1 |
688.3 |
695.4 |
687.9 |
680.2 |
|
Gross investment |
|
192.4 |
187.7 |
189.3 |
170.7 |
176.2 |
169.1 |
|
Nondefense |
|
588.9 |
599.3 |
631.7 |
593.8 |
587.7 |
583.0 |
|
Consumption expenditures |
|
430.9 |
440.9 |
479.3 |
451.0 |
445.1 |
440.9 |
|
Gross investment |
|
158.1 |
158.4 |
152.4 |
143.2 |
142.6 |
142.1 |
| State and local |
|
2,339.0 |
2,329.6 |
2,333.1 |
2,391.8 |
2,363.8 |
2,340.5 |
| Consumption
expenditures |
|
1,883.6 |
1,881.2 |
1,884.6 |
1,948.3 |
1,930.6 |
1,913.2 |
| Gross
investment |
|
455.5 |
448.4 |
448.6 |
443.5 |
433.2 |
427.4 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
21,441.8 |
21,171.1 |
19,784.4 |
21,590.1 |
21,708.9 |
21,475.5 |
| Gross domestic purchases |
|
22,292.0 |
21,906.4 |
20,023.3 |
22,064.4 |
22,304.2 |
22,195.6 |
| Final sales to domestic purchasers |
|
22,245.9 |
21,907.2 |
20,321.2 |
22,114.8 |
22,286.3 |
22,128.5 |
| Gross national product |
|
- |
21,381.6 |
19,672.0 |
21,804.3 |
- |
21,851.5 |
| Net domestic product |
|
17,867.4 |
17,597.9 |
15,951.3 |
17,988.4 |
18,209.3 |
18,056.7 |
Annual U.S. Real Gross Domestic Product and Related Measures
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Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
2020
|
2019
|
2018
|
2017
|
2016
|
2015
|
| Gross domestic product (GDP) |
|
-3.5 % |
2.2 % |
2.9 % |
2.2 % |
1.5 % |
2.6 % |
|
Personal consumption expenditures |
|
-3.9 % |
2.4 % |
2.6 % |
2.5 % |
2.7 % |
3.2 % |
| Goods |
|
2.6 % |
3.1 % |
2.8 % |
2.1 % |
2.8 % |
2.6 % |
| Durable goods |
|
3.9 % |
3.7 % |
3.7 % |
3.7 % |
3.7 % |
4 % |
| Nondurable goods |
|
-7.3 % |
1.8 % |
2.1 % |
2 % |
2.3 % |
2.8 % |
| Services
|
|
-5.3 % |
1.7 % |
5.9 % |
4.8 % |
-1.6 % |
5 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
6.4 % |
4.8 % |
5.5 % |
6.8 % |
5.5 % |
6.9 % |
| Fixed investment |
|
-4 % |
2.9 % |
6.9 % |
5.3 % |
-0.6 % |
2.1 % |
| Nonresidential |
|
-10.6 % |
-0.6 % |
5 % |
4.6 % |
-4.1 % |
-4.4 % |
| Structures |
|
-5 % |
2.1 % |
7.4 % |
6.1 % |
-3.4 % |
3.5 % |
| Equipment &
software |
|
1.6 % |
6.4 % |
7.5 % |
4.6 % |
6.3 % |
4.8 % |
| Residential |
|
6 % |
-1.7 % |
-0.3 % |
3.3 % |
5.5 % |
11.7 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
-13 % |
-0.1 % |
4 % |
3 % |
-0.3 % |
0.1 % |
| Goods |
|
-9.5 % |
-0.1 % |
4.7 % |
3.3 % |
0.3 % |
-0.6 % |
| Services |
|
-19.2 % |
-0.1 % |
2.6 % |
2.5 % |
-1.5 % |
1.6 % |
| Imports
|
|
-9.3 % |
1.1 % |
4.5 % |
4.6 % |
1.3 % |
4.6 % |
| Goods |
|
-6.1 % |
0.5 % |
4.8 % |
4.6 % |
0.9 % |
4.9 % |
| Services |
|
-22.5 % |
3.7 % |
3.3 % |
4.4 % |
3.1 % |
2.9 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
1.1 % |
2.3 % |
1.5 % |
-0.1 % |
0.8 % |
1.8 % |
| Federal |
|
4.3 % |
4 % |
2.6 % |
0.7 % |
- % |
- % |
| National defense |
|
3.5 % |
5.6 % |
3.4 % |
0.7 % |
-0.7 % |
-2.1 % |
| Nondefense |
|
5.6 % |
1.8 % |
1.5 % |
0.8 % |
1.2 % |
3.3 % |
| State & local |
|
-0.8 % |
1.3 % |
0.8 % |
-0.5 % |
1.2 % |
2.9 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
-2.9 % |
2.2 % |
2.7 % |
2.2 % |
1.9 % |
2.4 % |
| Gross domestic purchases |
|
-3.3 % |
2.3 % |
3 % |
2.5 % |
1.7 % |
3.2 % |
| Final sales to domestic
purchasers |
|
-2.7 % |
2.3 % |
2.9 % |
2.5 % |
2.1 % |
3.1 % |
| Gross national product
(GNP) |
|
- % |
2 % |
2.9 % |
2.3 % |
1.4 % |
2.3 % |
| Disposable personal income |
|
5.8 % |
2.2 % |
2.9 % |
2.6 % |
1.4 % |
3.5 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
-2.3 % |
4 % |
5.2 % |
4.2 % |
2.8 % |
3.7 % |
| Final sales of domestic product |
|
-1.7 % |
4 % |
5 % |
4.2 % |
2.1 % |
3.6 % |
| Gross domestic purchases |
|
-2.1 % |
3.9 % |
5.3 % |
4.2 % |
2.5 % |
3.7 % |
| Final sales to domestic purchasers |
|
-1.5 % |
3.9 % |
5.1 % |
4.8 % |
3.5 % |
3.8 % |
| GNP |
|
- % |
3.9 % |
5.2 % |
4.3 % |
2.7 % |
3.4 % |
| Disposable personal income |
|
7 % |
3.7 % |
5 % |
4.4 % |
2.6 % |
3.8 % |
| |
|
|
|
|
|
|
Annual U.S. GDP
(In Billions of Dollars) |
2020
|
2019
|
2018
|
2017
|
2016
|
2015
|
| Gross domestic product
(GDP) |
|
20,934.9 |
21,433.2 |
21,427.1 |
20,580.2 |
18,624.5 |
18,036.6 |
|
Personal consumption expenditures |
|
14,146.7 |
14,544.6 |
14,561.2 |
13,998.7 |
12,820.7 |
12,283.7 |
| Goods |
|
4,660.4 |
4,512.2 |
4,505.3 |
4,364.8 |
4,121.4 |
4,012.1 |
| Durable
goods |
|
1,619.6 |
1,534.4 |
1,526.6 |
1,475.6 |
1,411.0 |
1,355.2 |
| Motor vehicles & parts |
|
535.4 |
521.8 |
531.2 |
521.5 |
480.8 |
464.8 |
| Furniture & household equipment |
|
380.7 |
357.4 |
353.7 |
341.2 |
325.2 |
305.1 |
| Other |
|
212.7 |
221.7 |
224.1 |
218.3 |
385.5 |
376.6 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
3,040.8 |
2,977.9 |
2,978.6 |
2,889.2 |
2,710.4 |
2,656.9 |
| Food off-premises consumption |
|
1,134.2 |
1,025.7 |
1,032.4 |
1,003.4 |
915.1 |
900.7 |
| Clothing
& shoes |
|
353.8 |
403.5 |
398.9 |
391.5 |
393.7 |
379.5 |
| Gasoline,
fuel, oil & other energy goods |
|
249.8 |
335.4 |
338.0 |
349.6 |
273.7 |
303.7 |
| Other |
|
1,303.1 |
1,213.3 |
1,209.3 |
1,144.6 |
1,126.1 |
1,076.9 |
| |
|
|
|
|
|
|
|
| Services |
|
9,486.3 |
10,032.4 |
10,055.9 |
9,633.9 |
8,699.3 |
8,271.6 |
| Housing |
|
8,959.6 |
9,593.2 |
9,606.6 |
9,190.9 |
8,340.4 |
7,943.7 |
| Food services |
|
795.9 |
999.5 |
1,019.2 |
973.3 |
849.2 |
808.8 |
| Electricity & gas |
|
2,783.7 |
2,681.2 |
2,670.2 |
2,567.2 |
3,022.1 |
2,963.2 |
| Financial services |
|
1,205.0 |
1,176.1 |
1,156.1 |
1,111.0 |
984.7 |
921.1 |
| Transportation |
|
366.9 |
483.4 |
478.1 |
462.2 |
392.5 |
368.4 |
| Medical
care |
|
2,305.3 |
2,450.8 |
2,467.9 |
2,352.6 |
2,163.7 |
2,069.0 |
| Recreation |
|
405.6 |
580.4 |
586.9 |
563.2 |
492.6 |
466.3 |
| Other |
|
1,097.3 |
1,221.8 |
1,228.4 |
1,161.3 |
1,126.1 |
1,076.9 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,602.4 |
3,751.2 |
3,744.2 |
3,628.3 |
3,057.2 |
3,056.6 |
| Fixed investment |
|
3,678.8 |
3,702.1 |
3,675.9 |
3,573.6 |
3,022.1 |
2,963.2 |
| Nonresidential |
|
2,793.7 |
2,895.0 |
2,878.4 |
2,786.9 |
2,316.3 |
2,311.3 |
| Structures |
|
587.3 |
650.2 |
626.6 |
633.2 |
516.2 |
507.3 |
| Equipment & software |
|
1,176.8 |
1,241.0 |
1,240.9 |
1,222.6 |
1,043.9 |
1,086.1 |
| Information processing equipment & software |
|
419.7 |
397.2 |
412.7 |
408.6 |
303.9 |
314.3 |
| Computers & peripheral equipment |
|
85.0 |
90.7 |
93.0 |
89.4 |
73.1 |
78.5 |
| Software |
|
428.8 |
411.2 |
414.5 |
380.0 |
230.8 |
235.8 |
| Other |
|
515.9 |
501.9 |
503.4 |
461.7 |
230.8 |
235.8 |
| Industrial equipment |
|
251.9 |
260.9 |
252.5 |
245.9 |
225.0 |
220.9 |
| Transportation equipment |
|
241.2 |
310.3 |
301.6 |
301.8 |
286.7 |
308.1 |
| Other equipment |
|
263.9 |
272.5 |
274.1 |
266.3 |
228.3 |
242.9 |
| Residential |
|
885.0 |
807.1 |
797.5 |
786.7 |
705.9 |
651.9 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
-76.3 |
49.1 |
68.3 |
54.7 |
35.1 |
93.4 |
| Farm |
|
1.1 |
-14.5 |
-7.6 |
-7.8 |
-0.6 |
-2.0 |
| Nonfarm |
|
-77.4 |
63.6 |
75.8 |
62.5 |
35.7 |
95.4 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-644.9 |
-610.5 |
-631.7 |
-638.2 |
-521.2 |
-522.0 |
| Exports |
|
2,126.6 |
2,514.8 |
2,504.2 |
2,510.3 |
2,214.6 |
2,264.3 |
| Goods |
|
1,417.8 |
1,636.7 |
1,643.8 |
1,661.3 |
1,446.0 |
1,498.4 |
| Services |
|
708.8 |
878.0 |
860.4 |
848.9 |
768.5 |
765.9 |
| |
|
|
|
|
|
|
|
| Imports |
|
2,771.5 |
3,125.2 |
3,136.0 |
3,148.5 |
2,735.8 |
2,786.3 |
| Goods |
|
2,308.2 |
2,525.6 |
2,530.1 |
2,570.6 |
2,224.2 |
2,291.1 |
| Services |
|
463.4 |
599.6 |
605.9 |
577.9 |
511.6 |
495.2 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,830.7 |
3,747.9 |
3,753.5 |
3,591.5 |
3,267.8 |
3,218.3 |
| Federal |
|
1,484.5 |
1,419.2 |
1,423.5 |
1,347.3 |
1,231.5 |
1,225.0 |
|
National defense |
|
885.6 |
852.4 |
846.7 |
793.6 |
728.9 |
732.0 |
|
Consumption expenditures |
|
697.9 |
676.5 |
677.9 |
637.4 |
585.2 |
590.6 |
|
Gross investment |
|
187.7 |
175.9 |
168.8 |
156.2 |
143.7 |
141.3 |
|
Nondefense |
|
598.8 |
576.8 |
540.9 |
516.2 |
502.6 |
493.0 |
|
Consumption expenditures |
|
444.6 |
420.8 |
436.1 |
419.5 |
379.4 |
373.1 |
|
Gross investment |
|
154.2 |
146.0 |
140.6 |
134.2 |
123.3 |
119.9 |
| State and local |
|
2,346.2 |
2,328.7 |
2,330.0 |
2,244.2 |
2,036.3 |
1,993.3 |
| Consumption
expenditures |
|
1,894.4 |
1,897.8 |
1,904.5 |
1,847.4 |
1,693.6 |
1,641.2 |
| Gross
investment |
|
451.8 |
431.0 |
425.4 |
396.8 |
342.7 |
352.2 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
21,011.2 |
21,384.1 |
21,358.8 |
20,525.5 |
18,589.4 |
17,943.3 |
| Gross domestic purchases |
|
21,579.8 |
22,043.7 |
22,058.8 |
21,218.4 |
19,145.7 |
18,558.6 |
| Final sales to domestic purchasers |
|
21,656.1 |
21,994.6 |
21,990.6 |
21,163.7 |
19,110.6 |
18,465.2 |
| Gross national product |
|
- |
21,702.9 |
21,723.2 |
20,848.1 |
15,842.8 |
15,246.9 |
| Net domestic product |
|
17,375.8 |
18,012.3 |
17,964.1 |
17,288.8 |
18,624.5 |
18,036.6 |
|
